Brandon Kochkodin, Bloomberg News Monitors display Coinbase signage during the company s initial public offering (IPO) at the Nasdaq MarketSite in New York, U.S., on Wednesday, April 14, 2021. Coinbase Global Inc., the largest U.S. cryptocurrency exchange, is set to debut on Wednesday through a direct listing, an alternative to a traditional initial public offering that has only been deployed a handful of times. Photographer: Michael Nagle/Bloomberg , Bloomberg
(Bloomberg) Coinbase Global Inc. got a jump start on its first day of trading from the retail crowd. And the early enthusiasts likely walked away with a few bruises.
Day traders purchased a net $57 million of the cryptocurrency exchangeâs shares during its debut on the Nasdaq Stock Market, according to data from VandaTrack. That total accounted for 7% of the $822 million individual investors spent on all U.S. stocks and exchange-traded funds on the day, and made Co